The premium on our CVS Health (CVS) put has fallen to a dime. Let’s book profits now rather than risk a late-week reversal. By closing today, we’ll earn 0.3% in just two days, or 49% annualized.
This is the last of our open trades, meaning we have booked 17 winners in a row for this round of Income Madness. Traders who sold just one contract each, earned $523 in cash. With max capital deployed of just $28,750, our cash rate of return was an excellent 1.8%.
Current Stock Price: $100.99
Cash in Hand: $0.36
Action: Buy to close the CVS Oct Week One (10/7) 97 Put for around $0.10, but adjust as needed to close today
Profit: $0.26, or $26 per contract